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Buying or Selling a Home/real state price cut
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Question
Hi, I am a first time buyer, I wana buy a condo in Southern California (Orange County).
I can see that the real state price has being decreased from May 2004 about 7% in this area.
supposing the interest rates will remain constant, should I buy now or wait untill the prices decrease enghough and buy it?
Sincerely yours
Frank
HI Frank,
Thanks for your question.
As opposed to renting it is always a good time to buy real estate for taxes pruposes and equity investment. Rent keeps getting paid out, but traditionally values increase and if you buy, hopefully your mortage will decrease.
As far as regional value increases and decreases go, that is hard to predict, but usually if you don't buy you end up behind.
If you need expert real estate service in southern California contact Sheri Luongo at sluongo617@aol.com.
Hope this helps you.
Hans
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Hans Weber, Licensed Broker Associate
Expertise
I am able to answer questions related to buying or selling residential real estate in New York. There are many questions buyers and sellers have about the process of buying or selling a home that they are afraid to ask or that might seem too simple to ask. For instance: in a house, why do some doors open in and some doors open out?
Experience
Licensed real estate agent in New York State in 1988.
Serving buyers and sellers as a full time occupation since 1988 with over 300 successful residential real estate transactions.
Organizations
National Association of Realtors.
Westchester County Board of Realtors.
Education/Credentials
Graduate of Pace University in 1988 majoring in business and minors in taxation and computer science.
Awards and Honors
Consistently one of top sales awarding winning agents for Coldwell Banker in Westchester County.
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